QatarEnergy will acquire a fifty percent stake in the Iraqi solar energy project TotalEnergies:
Partnership Contract: As part of the Gas Growth Integrated Project (GGIP), QatarEnergy and TotalEnergies have reached an agreement for a solar power project in Iraq.
Distribution of Stakes: TotalEnergies will hold the remaining 50% of the project while QatarEnergy will acquire 50%.
Scale of Project: Up to 1.25 gigawatts (GW) of solar power will be generated by this massive undertaking, which will make use of two million bifacial solar panels and single-axis trackers.
Supply of Electricity: It will be completed in phases between 2025 and 2027, supplying power to approximately 350,000 homes in the Basra region upon completion.
Statements: The Minister of State for Energy Affairs of Qatar expressed optimism regarding TotalEnergies’ partnership with Iraq’s solar power sector.
Greater GGIP Function: In June 2023, QatarEnergy acquired a 25% stake in a consortium implementing the GGIP in Iraq, which also includes capturing flared gas for power generation.
Complete QatarEnergy statement:
In order to participate in a solar power project that is a component of the Gas Growth Integrated Project (GGIP) in the Republic of Iraq, QatarEnergy has entered into a partnership agreement with TotalEnergies.
QatarEnergy will acquire a 50% stake in the solar photovoltaic project in accordance with the terms of the agreement, subject to regulatory approval, and TotalEnergies will keep the remaining 50%.
This essential task, which will be one of the biggest on the planet, will comprise of 2 million high-effectiveness bifacial sunlight powered chargers mounted on single-pivot trackers and will, upon its fulfillment, be equipped for providing up to 1.25 gigawatts (top) of sun oriented produced capacity to the power lattice in the Basra district of Iraq. The task will be created in stages that will come online somewhere in the range of 2025 and 2027 and will have the ability to give power to around 350,000 homes in the Basra locale.
His Excellency Mr. Saad Sherida Al-Kaabi, the President and CEO of QatarEnergy and Minister of State for Energy Affairs, stated: I am pleased to have completed our participation in this crucial project for Iraq’s energy industry and look forward to collaborating with TotalEnergies, our strategic partner, to bring it to fruition. We are grateful to TotalEnergies and the Iraqi government for their trust in us to support the development of solar power in Iraq.
In June 2023, QatarEnergy made the announcement that it had formed a consortium with TotalEnergies (45%), Iraq’s Basra Oil Company (30%), and QatarEnergy (25%) to carry out the Gas Growth Integrated Project in Iraq.
In addition to recovering significant volumes of gas that would have otherwise been flared throughout the Basra region in order to supply power generation plants, GGIP is a crucial strategic project that involves the design and construction of facilities to develop Iraq’s natural resources.
